What is Escrow?
An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met as overseen by the third party to everyone’s satisfaction.
How do I change transaction details and terms?
Changes after the terms have been agreed to must have the consent of both the Buyer and the Seller; and cannot supersede our general escrow instructions.
How do Buyers or Sellers cancel transactions?
Prior to the agreement of terms by both parties, the Buyer or Seller can cancel the transaction by clicking the cancel button on the transaction detail screen.
After funds are secured, the cancellation of a transaction can only be done by Escrow Manager after notifying both parties.
How much does Escrow cost?
Escrow cost on average 10%. Escrow between two Platinum members is done at 5%.
How are Buyer's refunded?
In the event of a cancelled transaction or a partial refund to the Buyer, the Buyer’s funds will be refunded back to the original account used to pay Escrow Manager. The original escrow fee is non-refundable.